Lead magnet ideas for an e-commerce store will help your income grow as a business owner.
A huge percentage of people visiting your e-commerce store won’t buy anything on their first visit. They are probably just wandering around checking out what you have in store.
In fact, research by smart insight shows that only 97.5% of your traffic will buy from your store. Making the conversion rate for an e-commerce store average 2.5%.
If you don’t want to lose those traffic forever (97.5% traffic), you need to hook them. You need to incorporate some of the potent e-commerce lead magnet ideas.
In this article, I have discussed 5 lead magnet ideas for an e-commerce store and how to implement them. Let’s dive in.
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What are the Best Lead Magnets (For Store Owners)?
Lead Magnets are those incentives Store Owners offer their target audience/customers in exchange for their contact information (such as email addresses, phone numbers, etc.).
They are mostly downloadable materials like PDF, Videos, checklists, and so on.
Those contact information will be handy to nurture them till they become a potential customer.
5 Best Lead Magnet Ideas For an Ecommerce Store
1. Discount Codes
Discount Codes are one of the biggest motivations for shoppers. Everybody loves to buy quality products at a reduced price, which is why discount lead magnets are very potent.
Discounts are best used to push products that have slow sales or have massive competition. Imagine competing with Amazon on a particular product, you might want to leverage discounts to pull shoppers to your store.
When to Use: Discounts are best used if your store is still new with no reputation, they are also potent to increase sales of products with slow sales.
Giving discounts will motivate shoppers who don’t know your brand to at least try your products since they won’t have to pay full price.
How to Use: Offer shoppers a few percent off or a few dollars off their first purchase. Proceed to request their email address in exchange for the discount code. Just as simple as that.
Since you are helping them reduce costs, they will willingly give their most active email. Then you can continue to nurture them till they turn into a potential customer.
To boost revenue even while giving discounts, include a minimum purchase offer. Example – Only shoppers with a purchase of up to $50 are eligible for a discount.
Discounts in combination with a powerful e-commerce sales funnel will rapidly increase your store’s revenue.
2. Ebooks, Infographics, or Guides for Lead Magnet Ideas
There is a famous saying “Customers don’t buy products, they buy solutions”. To give your store a huge boost, you must ensure it contains problem-solving products.
You also need to explain to your customers how your product will solve their problem (through Ebooks, Infographics, or Guides).
Depending on how much information your audience needs before they feel comfortable buying, educational lead magnets can vary in length. Example – A customer willing to buy a make-up tool will enjoy an infographic showing how it works than an ebook of 35 pages.
When to Use: E-books, infographics, and guides work like fire when targeting audience/shoppers at the awareness and consideration stages of the sales funnel.
These shoppers know nothing or little about your products, so informational content helps them to understand how your products can solve their problems.
How to Use: This type of magnet is used to provide product information your audience might be interested in. For example, If you sell a slim tea, an ebook that dives into the nitty-gritty of the manufacturing process.
Ingredients sourcing, and also how the tea works will be handy to your audience and can trigger them to buy.
Other than Ebooks, Guides, or Infographics, some brands also use different platforms like YouTube, and webinar platforms to connect with their customers and convince them that their product is worthy of purchase.
3. Free Shipping
As a shopper myself, I can confirm the power of free shipping; it has influenced much of my shopping. The best way to influence shoppers to buy your product is by allowing free shipping.
Most of the time, shoppers face the hassle of paying high shipping fees, leading them to cut off some items. As a smart store owner, you must leverage free shipping to increase sales and generate more leads.
When to Use: If a vast amount of shoppers abandon their carts after adding several products, It might be because of the scary shipping fees. Cutting off these fees will encourage them to proceed with the orders.
How to Use: Add this lead magnet to the most visible parts of your store so shoppers will never miss the opportunity. For example:
- Add a banner to the top of your Homepage
- Include the “Free Shipping” option on your checkout page
- Embed a lead magnet within other pages of your site
You must ensure that only shoppers that have created an account on your store (with their names and email addresses) can leverage the free shipping option.
While using free shipping as a lead magnet for your e-commerce store, you must ensure to play smart, so you don’t run at a loss.
Setting a minimum requirement will help you harness this lead magnet efficiently. Example – “Free shipping for purchases over $50,” or “Free shipping for orders of 3 or more products” is scalable.
4. Daily Promotions/Sales
Daily promotion might not seem like a scalable lead magnet idea for most stores, but stores that leverage them know how effective they are.
Daily promotion implies that you run a promotion every day on at least one of the goods you have for sale; it doesn’t necessarily need to be expensive.
PlanetX is an example of a store that utilizes daily promotion to increase traffic, sales, and generate more leads.
When to Use: If you have the margins to run a daily promotion on your store without losing profits, It could be a game-changer that would set you aside from other stores. Give it a shot.
How to Use: If you already have the right amount of traffic, you need to convert those traffic to leads by adding a subscription box where people could insert their email addresses to receive daily updates on the newest promotions.
5. Giveaways for Lead Magnet Ideas
One of the most evergreen eCommerce lead magnets is a giveaway. It’s guaranteed to capture leads. Giveaway means giving out free gifts, but only a small percentage of people trying to get it ends up getting it.
So when you enter a giveaway, you might end up getting it or not, it’s not guaranteed. And that is why giveaway is viral-friendly and scalable for store owners.
When to Use: If you want your store to gain greater visibility in a short period, giveaway does the job perfectly. People would check out your store just to partake in your giveaway.
How to Use: A good example of leveraging giveaway for lead magnet can be seen on Zappos (shoes, bags, and accessories store) where anybody can win a $100 weekly Zappos gift card giveaway.
Zappos also make sure to regularize their giveaways; it happens every week, so users are highly incentivized to stay subscribed to Zappos’s updates if they want to stand a chance.
Conclusion of Lead Magnet Ideas for an e-Commerce Store
There you have it, the 5 lead magnet ideas for an e-commerce store. Even though e-commerce SEO plays a vital role in boosting your store’s organic reach, lead magnets are way easier to implement and can yield faster results.
Which of these 5 lead magnets ideas for an e-Commerce store have you tried? What is the conversion rate for you?
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Hi there, thank you so much for this informative article! I am part of, and make use of a sales tracking software called SalesQ. It ensures real-time monitoring and customer management/feedback. How would I go about using what you’ve mentioned in this article to attract more visitors to my landing page and more importantly, get visitors to invest in my software?
Hey Folajomi, congrats on getting featured on Inspire to Thrive. It’s a milestone for sure:)
And your article is really good too. I agree that lead magnets are crucial for revenue growth and making full use of your audience.
I’m thinking more in line of list building instead of it’s e-commerce application, but it’s the same thing.
Offer a freebie and get an email address in return.
HI Nikola,
Thanks for stopping by as usual.
You got the point clear, lead magnet is about giving value to target audience to collect their contact information.
P.S This is my second one on Lisa’s amazing blog, not the first one…hahaha
Take Care Nikola